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“This pilot project in Finland is a critical step forward in our strategy to expand globally and innovate sustainably,” said Fred Thiel, Marathon’s chairman and CEO. “We are not just producing digital assets; we are heating homes and integrating sustainable practices into our business model. We believe that this kind of innovation can drive the advancement of the digital asset compute industry and further strengthen Marathon's leading position in the field."
This is a topic so close to my heart that I wrote something about sustainable BTC mining before. Will update this article with the Finland example! Haha
My affinity with Bitcoin partly lies in the fact that BTC mining leverages sustainable forms of energy. Sometimes, I get riled up when mainstream media insist on perpetuating the stereotype that BTC mining = damaging our Mother Earth. However, as numerous examples have illustrated, BTC mining helps resolve the energy grid problem because it uses the excess energy produced during periods of low demand.
As a former Science teacher, I enjoy reading about how BTC miners take advantage of the renewable energy sources in various parts of the world to conduct their operations. For example, Norway is the biggest Bitcoin mining hub in Europe because it has abundant hydropower. Bitcoin mining is also environmentally friendly in Iceland because it has abundant geothermal energy. Other examples include wind farms in Texas and hydroelectric dams in Canada. In all, according to 2022 data from the BTC Mining Council, Bitcoin mining consumes a mere 0.16% of the world’s total energy production.
Sustainable BTC mining doesn’t seem to be restricted to Western countries. Just last June, Crusoe Energy, an American-based energy company that leverages wasted natural gas to power BTC mining and boasts a patented Bitcoin Flare Mitigation technology, announced its intention to expand its operations in the Middle East with investment backing in the form of sovereign wealth funds of Abu Dhabi and Oman. Hopefully, more and more places on earth adopt renewable technologies to mine BTC.
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I also read not long ago that more than 60% of BTC mining globally is done with renewable energies, and that it was expected that by 2030 it would be close to 100%, there will be no excuse that says that BTC and its mining is harmful to mother earth.
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53 sats \ 5 replies \ @Cje95 21 Jun
Great use of the heat byproduct! If only they could have them give off AC cause we could use some extra AC in the US right now!
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21 sats \ 0 replies \ @anon 21 Jun
You actually can use waste heat for air conditioning too with an absorption AC: https://todayshomeowner.com/hvac/guides/what-is-absorption-air-conditioning/
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That would be fantastic! In my area it would be amazing too, I'm roasting at 35 degrees!
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16 sats \ 1 reply \ @Cje95 21 Jun
Ooof a nice toasty 95 F! I work in Washington DC and tomorrow we are supposed to top out near 38 degrees C with the heat index taking it to 43 degrees C. I will be staying inside my apartment for sure!
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I hope you can cope with it well! If you don't have to go outside, you surely do.
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I was wondering if there is a way to make this happen in Arizona or other desert areas around the world. If this were to be solved - it could really help bitcoin and the world.
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My opinion is that the more it reaches and the more homes it reaches... it would be a great advantage and thus expand worldwide...👍
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Mara = spammers and saboteurs. That's their "business model"
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The 2-megawatt data center, energized at the end of May, is located in the Satakunta region, home to 11,000 residents.
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So cool can’t wait to see where this leads!
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